Singapore Could Pull Plug on Sibor

The Monetary Authority is Concerned the Benchmark Interest Rate May be Vulnerable to Manipulation

By

Martin Vaughan

Feb. 17, 2013 5:31 a.m. ET

Singapore's monetary authority is in discussions with international banks on discontinuing the Singapore interbank offered rate, or Sibor, in light of abuses with regard to the similar Libor, a person involved in the talks said.

The Monetary Authority of Singapore entered talks last year with banks regarding how the benchmark interest rate is set. The person said there are concerns that the collaborative process used to set the rate...